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The new products process is the path that a new product takes from idea to the time of launch and beyond... The 5 phases of the new products process ensure that companies reach maximum efficiency in developing new, successful products.
What is "New"? Explore the wide spectrum of what constitutes a "new product." Understand the range from revolutionary inventions to subtle repositioning.
Customer Profiling Understand the key ways to segment your market. Learn about demographics, geography, buying habits, and more for precise targeting.
The Product Itself Matters Focus on the five key product characteristics and how they influence consumer decisions.
Advertising is one of the most visible forms of communication. Therefore, advertising budget decisions are critical. Choosing the promotional budget can be a tough process, so study the available methods carefully!
The intensity of rivalry between existing competitors in a market or industry depends on a number of factors. Assessing the intensity of competition in an industry is the most important step in the 5 Forces of Porter Model Analysis.
Many public relations tools exist. However, the most important PR tools fall into 7 categories. Public relations (PR) is the way a company communicates with the public and media. The aim is to create and maintain a positive image and a strong relationship with the target audience.
Explore when and how to implement price increases or decreases, including the importance of maintaining customer trust and brand image.
Understand Pricing Psychology Learn how pricing influences customer behavior. Use targeted strategies to create a sense of value and urgency.
Cost-based pricing involves setting prices based on the costs for producing, distributing and selling the product. But costs represent the other extreme: costs set the floor for the price that the company can charge.
Customer value-based pricing is considered to be the best pricing strategy... When a customer buys a product, he exchanges something of value (the price) to get something of value in return (the benefits of having or using the product or service).
The Product Lifecycle Roadmap Understand the distinct stages of a product's lifecycle and learn how to optimize your marketing strategy throughout each phase.
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